The developed world is on the brink of the greatest demographic change in its history, and America's standard of living will decrease by almost one-third by the middle of this century, according to a new study released by the National Center for Policy Analysis (NCPA). The report adds that over the next 30 years, the number of elderly in the United States, the European Union and Japan will more than double, while the number of workers available to pay the elderly their government-promised benefits will rise by less than 10%. That will require large tax increases – the payroll tax...